My mind never takes a break when it comes to personal finance (just ask Liz), which is why I end up reading dozens (if not hundreds) of personal finance articles every single week! Here are the absolute best posts that I enjoyed from this past week. I hope you enjoy them as much as I did!
– by Business Insider – Both Liz and I got a year-end bonus this year. Since we’re natural savers, we’ll probably just stare at the figure in our bank account, smile, and then do nothing with it (until we decide to buy another rental property). But, if you must do something with that bonus of yours, then I would strongly recommend reading the “11 smartest things” from this article. It won’t steer you wrong.
2) 9 Strategies for Cutting the Cost of Convenience
– by The Simple Dollar – Convenience doesn’t always seem expensive, but it can really add up. Just the other day, I realized we basically had no milk in the fridge, so I bought some late at night from the gas station for $3.79 since Aldi was no longer open (which cost me nearly $2). Then, we were busy working on the rental house and decided to order pizza. This was another convenience expense that probably cost us $10 more than if we would have just taken a lunch with us from home! If you want to save hundreds of dollars each month, cut out your convenience purchases for good!
3) Two Huge Lessons from a $625,000 Lunch with Warren Buffett
– by Business Insider – I can’t imagine spending $625,000 on a lunch, but this one was apparently well worth it for two main reasons. First, the buyer learned how important his social circle really was. Instead of surrounding himself with go-nowhere takers, he realized that he should be socializing with successful givers. Just this simple change has made a tremendous difference in his life. The second realization….well, you’ll have to read the article!
4) 5 Nasty Surprises of Early Retirement
– by U.S. News Money – I still think about early retirement once in a while, but before I decide to walk that path it’s always good to read about what that might mean for me. What would my life truly be like if I retired in 5 years? Here are 3 of the 5 main issues with early retirement:
- Finances will continue to be a worry
- Going back to work will always be a possibility
- Happiness won’t magically appear because you’re retired
Even though you might have plenty of money in retirement, it’s still quite painful to watch your retirement stash decrease, which will cause you to pinch your pennies and spend much less than you’re really able.
– by Zandria – Basically, this couple drives an ugly car because it makes their future dreams possible. They pay next to nothing in insurance and gas, and they hardly ever need to repair it. Sure, the car is an absolute eyesore, but they honestly don’t care what others think about them, and the money they’re saving is enabling them to save and invest heavily for their future, which is exactly what all of us should be doing if we want to retire wealthy.
6) 7 Things I Learned About Wealth Building from My Mom
– by Be Wealthy & Smart – The advice is probably what you would expect, but the cool thing about this article is that her mom actually lived it and became a multi-millionaire because of the simple choices that she made throughout her life. If you want to be wealthy, then start taking notes from this article! It’s a good one!
Which article was your favorite? What did you learn?
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.